Aboki Naira To Dollar Black Market Rate Today 18th February 2025

On Tuesday, February 18, 2025, the Nigerian Naira’s exchange rate against the US Dollar in the black market, commonly referred to as the “Aboki” market, continued to fluctuate.

According to various sources on the ground and online platforms, traders buy a dollar for ₦1550 and sell at ₦1570.

This slight rate shift reflects the ongoing dynamics of Nigeria’s forex market, where the black market rate often diverges from the official rates set by the Central Bank of Nigeria (CBN). The disparity between these rates continues to be discussed among economic analysts, who attribute the fluctuations to several factors, including government debt, fluctuating oil revenues, and economic policy measures.

The unofficial market, or parallel market, serves as a crucial indicator for many Nigerians due to the challenges in accessing foreign currency through official channels. The rates in these markets are influenced by supply and demand, government policies, and global economic trends.

Despite the CBN’s efforts to stabilize the Naira through various monetary policies, the black market often reacts swiftly to these changes, sometimes with outcomes contrary to the government’s intentions.

Economic observers note that today’s rates are part of a broader trend where the Naira has been under significant pressure.

This pressure is compounded by the government’s ambitious targets to reduce inflation, which currently stands at around 34.8%, to 15% by the end of 2025. Such macroeconomic goals could significantly influence currency stability across both official and informal markets.

Navigating these exchange rates remains a daily challenge for individuals and businesses in Nigeria. The reliance on the black market for forex transactions underscores the complexities of the country’s dual exchange rate system, where the official rate does not always reflect the day-to-day reality of currency valuation on the streets.

It is important to note that the CBN does not recognize transactions in the parallel market and advises individuals to engage in foreign exchange through official banking channels. However, the black market remains a significant part of the Nigerian economic landscape, offering insights into the real-time valuation of the Naira against the Dollar.

As the day progresses, these rates might undergo further adjustments, reflecting the ever-changing landscape of Nigeria’s foreign exchange market.